TRANSCRIPT
The “Social Media” RevolutionPresentation by: Bill Wang & Eric Tse
Summary
1. Background
2. Target Market
3. Marketing Strategy
History
• Facebook was created by Havard undergrad Mark Zuckerberg and colleges in February 2004
• The company was incorporated in June and launched officially in 2006
Key Facts and Figures
• Over 500 million users worldwide
• Ranked as the 2nd most visited site on the internet and the 3rd most valuable web business after Google and Amazon
• Valued at $41,000,000,000
• Facebook receives 700 billion minutes of traffic by users per month
Features
Keeping in touch with old and new friends Find schoolmates using the search feature User groups to discuss with other with similar interests Keep track of your friends using the News feed
Keep friends informed about what you do Update your status Share blog posts, pictures and videos Promote an event you’re holding or attending
Access to applications for all purposes Interactive and fun applications Publish content (photos, videos, notes, etc.) Applications linked to other websites (Flickr, Twitter, etc.)
Retain your privacy Control what others see and read about your profile
How People Share Online
Source: AddToAny
User Activity • More than 500 million active • Average user spends more than 55 minutes per day on Facebook• 50% of active users log on to Facebook in any given day• 3 billion photos are uploaded to the site every month• 60 million statuses are updated each day
Target Market
Demographics and Physiographic
Demographics
Demographics• Age: people 15-24
• Gender: Both
• Family Life Cycle: Single, never married
• Ethnicity and Culture: Varies
Percentage of people who have a Facebook account
MarketingCharts.comData Source: Harris Poll, 2009
%
Physiographic
Psychographics• Religious beliefs: Varies• Tastes in Music: Popular genres • Lifestyle: Very social and outgoing• Attitudes towards Health: Self-conscious • Personality traits: Sociable
Facebook is not a product and therefore does not fit into all categories of the consumer profile
Marketing Strategies
Information Technology
Ethical Responsibility
Green Initiatives
Information Technology
• Applications– Open Source Development– Social Network Games
• Virtual Currency• In game advertising
– Mobile Device• mGiving
• Referral Advertising
• Pay Per Click Advertising
The Facebook Platform
Over 1 million developers and entrepreneurs from more than 180 countries
• 70% of users engage in over 500 000 active applications
• More than 80 000 websites implement Facebook Connect
Open Source Development
Activity Feed
Recommendations
Like Button
Mobile
• Over 100 million active users
• Twice as active than non-mobile users
• Mobile Apps
Mobile user interface
mGivingmGiving
Social Network GameSocial Network Game
Features
Community
No victory conditions
Virtual currency
In Game AdvertisingIn Game Advertising
Referral AdvertisingReferral Advertising
Pay Per Click AdvertisingPay Per Click Advertising
User Safety
• Personal Information
• Ethics– Privacy Protection– Anti-bullying
Green Initiatives
Energy efficient data center cooling
Green Blog
In conclusion
• Facebook is social utility for people to efficiently communicate with friends, family and coworkers
• Marketing Strategies include:– Information Technology;– Ethical Responsibility and; – Green Initiatives